World News

UAE reduces service fees to support economy

DUBAI (Reuters) – The United Arab Emirates (UAE) Ministry of Economy said on Sunday it was cutting fees for 94 of its services to reduce the cost of business and support the economy amid the coronavirus outbreak.

The decision includes fees related to management licenses, commercial agency registrations and trademarks.

The financial impact of the measures is estimated to have a value of 113 million dirhams ($31 million), the ministry said in a statement.

(Reporting by Yousef Saba; editing by John Stonestreet)